{"id":32302,"date":"2020-11-24T20:26:10","date_gmt":"2020-11-24T18:26:10","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=32302"},"modified":"2025-08-28T07:59:26","modified_gmt":"2025-08-28T04:59:26","slug":"spot-bitcoin-trading-volume-hits-year-to-date-high","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/spot-bitcoin-trading-volume-hits-year-to-date-high\/","title":{"rendered":"Spot Bitcoin trading volume hits year-to-date high"},"content":{"rendered":"

Bitcoin’s rally toward the $20,000 level is supported by a spot-trading volume on exchanges that is a record for 2020. This comes from Arcane Research’s report<\/a>.<\/p>\n

\\n<\/p>\n

Analysts note that daily turnover on crypto exchanges reached $5.5 billion \u2014 higher than during Bitcoin’s March crash ($5.05 billion).<\/p>\n

\\n<\/p>\n

\\\"Spot<\/p>\n

Total spot exchange turnover with broadly reliable trading volumes. Data: Arcane Research, Skew, Messari.<\/p>\n<\/div>\n

\\n<\/p>\n

The seven-day moving average of spot volume stands at $3.5 billion, matching December 2017 levels.<\/p>\n

\\n<\/p>\n

The cryptocurrency ‘Fear Index’ also signals market enthusiasm, holding at 88. Last week the indicator reached 94, indicating the extreme greed of market participants.<\/p>\n

\\n<\/p>\n

\\\"Spot<\/p>\n

Data: Arcane Research. Alternative.me.<\/p>\n<\/div>\n

\\n<\/p>\n

Analysts expect a rapid retest of the $20,000 level reached at the end of 2017.<\/p>\n

\\n<\/p>\n

\n

\u201cGiven the current price dynamics<\/a>, it would not be surprising if Bitcoin heads into uncharted territory above $20,000,\u201d Arcane Research said.<\/p>\n<\/blockquote>\n

\\n<\/p>\n

If this level proves to be a serious obstacle for digital gold, the downside correction will be held at the $16,000 mark, the report says.<\/p>\n

\\n<\/p>\n

For now, it sits around 2% below its all-time high against the dollar.<\/p>\n

\\n<\/p>\n